Airwallex CEO: Stablecoins Are Unlikely to Replace Traditional Cross-Border Payments
Airwallex co-founder and CEO Jack Zhang questioned the practical use of stablecoins in a post on the X platform.
He stated: Investors keep asking me about stablecoins and how they reduce foreign exchange fees; if you transfer money from USD to EUR and the recipient still needs to receive EUR in their bank, I don't see any way stablecoins can reduce costs—the conversion cost from stablecoins to the recipient currency is much higher than the interbank forex market. Cryptocurrency is a misunderstood field, and in the past 15 years, no application cases of cryptocurrency have been seen.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
CME data center outage halts futures and options trading, affecting contracts worth trillions of dollars
CME EBS market will open at 20:00
BNB Treasury company CEA Industries appoints digital asset expert Annemarie Tierney as director
